Hedge funds are going to lay out their Brexit wish list to stop the destruction of the city

BIG
LONDON — Lobby groups representing Britain's hedge funds is going to outline their wish list for Brexit talks between the UK and European Union to mitigate the damage a "hard Brexit" could have on the City.

According to the FT, citing AIMA figures, 85% of European hedge fund assets are managed from the UK.

The hedge fund document is allegedly going to point out that the industry contributes nearly £4 billion annually in tax while also providing more than 40,000 jobs.

On top of that, the document will also say that if Britain does decide to opt out of the Freedom of Movement act — and therefore stop the free movement of EU citizens into the UK — this could hit the industry hard because 20% of its employees in London come from the EU.